Taiwan Cbc Exchange Agreement

Although not explicitly stated, Taiwan appears to follow the LOCAL OECD guidelines of December 2017 (pre-registration) on the basis of the list of jurisdictions. These guidelines provide that the second general condition for local secondary notification, without a CBC exchange agreement, does not include circumstances in which no international agreement is in effect (TIEA, tax contract, mutual assistance agreement). The legal systems listed by Taiwan all have an international agreement in place, so that the local notification requirement, which is not based on any cbC exchange, can be applied in accordance with OECD guidelines. In addition to the legal systems with which the cbC exchange is not yet effective, the communication also specifies that Taiwan is able to exchange cbC relationships with New Zealand and that local notification for constituent companies with a New Zealand parent company will not be necessary, except in the event of an exchange error. In the event of an exchange error, the constituent unit has one month to file the cbC report after registration. This section presents all the bilateral exchange relations that currently exist for the automatic exchange of CBC reports between tax authorities. The previous cbC Stock Exchange release, issued on April 27, 2018, will no longer apply as of December 3, 2018. CBCR submission rules (1) What is the threshold? The multinational`s consolidated profit the previous year was NTD 27 billion or more. (2) Who should run? i. If UPE is in Taiwan, UPE should submit cbcr. ii.

If UPE is not in Taiwan, UPE or the surrogate parent company should submit cbCR to its tax administration. However, if the CBCR could not be obtained through exchange of information (such as the tax contract, information exchange agreement, etc.), subsidiaries of multinational corporations (or one of the related companies) would have to file in Taiwan CbCR. (3) How can one submit? Please see the link (tax.nat.gov.tw) of the e-filer payment service and taxes of the Ministry of Finance, download and install the e-filing system for Master File and CbCR. There are two ways to submit cbCR: 1. Internet repository: file or import of necessary information (including cbCR and basic information from the reporting entity). Once you have made sure there are no errors, please download the scanned cover with an appropriate official seal. After receiving the confirmation email or notification, the deposit is complete. 2.

Media presentation: submit or import the necessary information (including the CBCR and the basic information of the reporting entity) and convert it to CD-ROM format. Once you have made sure there are no errors, submit the CD-ROM to the local tax authorities with the envelope scanned with an official seal. NTBNA would like to remind companies to be aware that they have or have not met the masterfile and CBCR submission threshold. With the year-round e-filing system, it will be easier for multinational associated companies to submit Master File and CbCR using the e-filing system. For more information, please visit NTBNA`s website at www.ntbna.gov.tw/ or call the freephone number 0800-000321. NTBNA is pleased to offer additional on-demand consulting services. Taiwan will continue to actively negotiate the exchange of cbC relationships with publicly traded jurisdictions and will provide updates to the list. Note – The Taiwan CBC reporting obligations apply from fiscal year 2017, with the first CBC reports due december 31, 2018 (previous coverage).

Local submission of CBC reports is generally not necessary if an effective CBC exchange agreement with the parent`s jurisdiction is signed prior to the closing of the cbC report. However, the founding companies are also required to file a CBC return under the standard tax reporting requirement (at the end of May for the end of the calendar year).


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